ACCT 325 - Taxation for Personal and Business Decision Making

Lecture Hour(s): 3
Lab Hour(s): 0
Credit Hour(s): 3

This course provides a summary of income taxes at the federal and state level as they affect business and personal investment decision making. Emphasis is on income tax concepts and their effect on decision-making, not form preparation. Topics covered include: types of taxes at various governmental jurisdictional levels; tax policy issues; fundamentals of tax planning; measuring taxable income; property acquisitions, cost recovery and dispositions; non-taxable exchanges; taxes and the choice of a business entity; proprietorship taxation; partnership and Sub S taxation; corporate taxation; compensation and retirement planning; investment and personal financial planning; tax consequences of personal activities, and simple personal tax preparation.

Prerequisite(s): ACCT 202 or Permission of Instructor.